Canada Drops to 12th Place in Global Innovation Ranking: Report

Canada Drops to 12th Place in Global Innovation Ranking: Report
Parliament Hill is seen below a Canada flag in Gatineau, Quebec, on Sept. 18, 2020. Sean Kilpatrick/The Canadian Press
Marnie Cathcart
Updated:
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A new report suggests Canada’s tax rates are “uncompetitive” and are impairing innovation when compared to other similar countries, including the United States.

The report, Taxes, Innovation, and Productivity Growth, released by the Fraser Institute on Feb. 7, found that innovation in Canada, which it called “a key driver of higher living standards,” has declined compared to 15 other relatively similar countries.